Covid-19 ASEAN Response Fund    

• Prime Minister of India cochaired India-ASEAN summit along with the Vietnamese Prime Minister Ngyuyen Xuan Phuc.
• During the summit, India is to contribute 1 million USD to COVID-19 ASEAN Response Fund.

Key highlights:

• The summit reviewed the state of the strategic relationship between India and ASEAN. It centred on main areas such as maritime collaboration, networking, commerce and trade, capacity development and education.
• ASEAN is seen as an influential party, as the ASEAN region has a strong potential for emerging markets.
• The ASEAN summit is taking place in the wake of China's hostile actions in the South China Sea.

Note:

• ASEAN is the fourth largest trading partner of India. India’s overall trade with ASEAN stands at 10.6% of overall trade of the country.